XTX Topco Ltd Acquires New Shares in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Key Points

• XTX Topco Ltd has acquired 25,609 shares of Rush Enterprises, Inc. valued at approximately $1.368 million, showcasing increased institutional interest in the company.
• The company has declared a quarterly dividend of $0.19 per share, representing a slight increase from the previous quarter's dividend, with a yield of 1.4%.
• Rush Enterprises has reported earnings of $0.90 per share, exceeding analyst expectations, coupled with a revenue of $1.93 billion for the last quarter.

XTX Topco Ltd acquired a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 25,609 shares of the company's stock, valued at approximately $1,368,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its stake in Rush Enterprises by 6.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock valued at $69,552,000 after purchasing an additional 79,499 shares in the last quarter. Beck Mack & Oliver LLC boosted its holdings in shares of Rush Enterprises by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,567 shares of the company's stock worth $58,821,000 after purchasing an additional 5,823 shares during the last quarter. Jennison Associates LLC boosted its stake in Rush Enterprises by 73.3% during the first quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock worth $47,156,000 after buying an additional 373,531 shares during the last quarter. Northern Trust Corp raised its holdings in Rush Enterprises by 5.9% in the 4th quarter. Northern Trust Corp now owns 785,283 shares of the company's stock valued at $43,026,000 after buying an additional 43,437 shares during the period. Finally, Deutsche Bank AG lifted its stake in Rush Enterprises by 2.1% during the fourth quarter. Deutsche Bank AG now owns 677,750 shares of the company's stock worth $37,134,000 after purchasing an additional 13,745 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stephens dropped their target price on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 748 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $56.08, for a total value of $41,947.84. Following the completion of the transaction, the chief operating officer directly owned 84,672 shares in the company, valued at approximately $4,748,405.76. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $52.10, for a total value of $234,450.00. Following the transaction, the senior vice president owned 12,510 shares of the company's stock, valued at $651,771. This trade represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,731 shares of company stock worth $303,634 in the last 90 days. Company insiders own 12.28% of the company's stock.

Rush Enterprises Stock Performance

RUSHA stock traded up $1.41 during trading on Tuesday, hitting $56.29. 127,449 shares of the company's stock traded hands, compared to its average volume of 429,825. The stock has a fifty day moving average price of $51.96 and a two-hundred day moving average price of $53.69. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 52 week low of $46.30 and a 52 week high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. As a group, equities analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 12th. This is a positive change from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio (DPR) is presently 21.65%.

Rush Enterprises Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.